On the evening of April 26, TV and radio media (000917. SZ) released its 2023 annual report and 2024 first quarter report. In 2023, the company achieved operating income of 3.92 billion yuan, a year-on-year increase of 5.22%, and net profit attributable to shareholders of listed companies was 176 million yuan. The net cash flow from operating activities was 288 million yuan, an increase of 284.43% over the same period last year.
In January ~ March this year, the company's revenue reached 898 million yuan, a year-on-year increase of 11.65%, and the non-net profit was 24.9657 million yuan, a year-on-year increase of 71.55%.
For TV and radio media, 2023 is an important year for the in-depth promotion of the strategy of "new cultural tourism and big asset management". In terms of investment business, although the capital market is in the adjustment stage, the company's fund scale has grown steadily and the quality of investment projects has been continuously improved, and the advertising, game and other businesses have maintained stable development.
New projects are popular, and the operating data of existing projects has reached a new high
In 2020, the company will clarify the new development strategy as "cultural tourism + investment", and 2023 will be the year of the company's "new cultural tourism, big asset management" strategy upgrade, accelerate the formation of new kinetic energy, and forge core competitiveness.
This year, cultural and tourism consumption fully recovered. According to the data, the number of domestic tourists in 2023 will reach 4.891 billion, a year-on-year increase of 93.3%, and the total travel expenditure of domestic tourists will be 4.91 trillion yuan, an increase of 2.87 trillion yuan over the previous year, a year-on-year increase of 140.3%. The number of trips and the total travel expenditure of domestic tourists recovered to 81.4% and 85.7% respectively compared with 2019.
In addition, in 2023, the consumption pattern of cultural tourism will also change, and the demand for cultural tourism will gradually spill over to non-traditional tourist cities, and new forms of tourism such as special military tourism and urban block tourism will continue to emerge.
"Give full play to the unique industrial advantages of 'media + cultural tourism', and strengthen the innovative development concept of 'cultural tourism + technology'. TV and radio media introduced in the financial report that in order to seize the opportunity of the recovery of cultural and tourism consumption, the company adheres to the tactical play of "grasping products with one hand and resources with the other", and creates a new concept of mango-flavored tourism and vacation products with mango IP and mango gene innovation.
This year, the company has landed 7 projects in 6 cities and prefectures in Hunan Province, such as Xiangtan Wanlou Mango Youth Wharf, Miluo Quzi Cultural Park, Nanyue Mango Dawn Inn, Mango City, Mango Future Art Center, Chenzhou 711 Time Town, Yiyang Anhua Tea Horse Ancient Road Mango Mountain Township Inn and other projects have all been opened and operated, realizing the "Seven Stars Alignment".
In terms of stock business, a number of operating data of the theme park Changsha Window of the World hit a record high. In 2023, the number of visitors to the park will be 1.63 million, the operating income will be 238 million yuan, a year-on-year increase of 55%, and the net profit will be 60.9478 million yuan, a year-on-year increase of more than 300%.
By strengthening online and offline marketing planning, St. Jue Fes Hotel has launched a series of innovative marketing activities such as "Fan Festival" and "Datong Lake Lobster Festival" to activate hotel consumption. In 2023, the Grand Hotel will achieve a revenue of 170 million yuan and a net profit of 20.5819 million yuan, which has been profitable for eight consecutive years.
The new projects that have landed one after another are also very popular and popular among young people, and have also become a new business card of local cultural tourism. For example, since its trial operation in March 2023, the Xiangtan Wanlou Mango Youth Wharf project has reached 3 million tourists, successfully ranking among the top 10 scenic spots in "Hunan Province", attracting 350,000 tourists during the National Day holiday, ranking second in the province, and becoming a typical case of revitalizing idle assets in the country. Other projects, such as Chenzhou 711 Time Town, have been in operation since September 2023 and welcomed 750,000 visitors during the year.
Focusing on digital technology, "culture + technology" empowers new cultural tourism
At present, the Hunan Provincial Party Committee and Provincial Government are accelerating the deployment to promote the integrated development of culture and technology, and Hunan Radio and Television has also clarified the main line of "integration of culture and technology".
In the new cultural tourism business, TV and radio media is also adhering to the digital integration and innovation of "culture + technology". Wang Yanzhong, chairman and general manager of the company, once said that TV and radio media adheres to culture as the core, follows tourism logic and product thinking, builds cultural content and IP into cultural and tourism products, uses digital technology to promote product innovation and industrial quality improvement, and relies on Mango's brand influence and ecological chain to create a cultural and artistic frontier in Mango City.
Among them, Mango Future Art Center is an important carrier for TV and radio media to explore "culture + technology" tourism products. For example, the center's first project, "A Thousand Miles of Rivers and Mountains Fantasy Show", the team uses AI technology, dome cinema, panoramic cave, immersive interactive installations and other high-tech means to rejuvenate the classic "A Thousand Miles of Rivers and Mountains" in the Northern Song Dynasty with the help of new digital technologies such as light and shadow, AR, VR, MR, etc., and promote the creative transformation and innovative development of China's excellent traditional culture.
In addition, the Mango Future Art Center also uses the integration of digital art to unlock a new way for young people to travel to Mango City, create a cultural business card of Changsha characteristic city, and make a new attempt to further strengthen Changsha's brand as "World Capital of Media Art".
Xiangtan Wanlou Mango Youth Wharf has also laid out "culture + technology" products, which are "Millennium Eighteen Total", "Ink White Stone", "Six Paintings Tancheng Light and Shadow Sculpture Show" and "Qi Baishi Light and Shadow Show". While enriching the experience of scenic spots through these immersive products, Wanlou has also fully entered the new track of research and learning, and has been approved as the "third batch of research and practice education bases in Xiangtan City".
Silver Persimmon Finance also noted that in the near future, TV and radio media will accelerate the establishment of a special cultural technology company, use unique IP resources and innovative transformation of culture, continue to make efforts in the application of digital technology, and continue to promote the innovation of "cultural tourism + technology" products.
The large-scale asset management business has developed steadily, and the scale of management has continued to expand
As another core business of TV and radio media, the "big asset management" sector is mainly carried out by its subsidiary Dachen Caizhi. Since 2023, with the official implementation of the comprehensive registration system, the venture capital industry has entered a new stage of development, and technology investment has become the mainstream investment direction of the venture capital industry.
According to the financial report, in 2023, Dachen Caizhi will achieve an investment management income of 491 million yuan and a net profit of 390 million yuan. Up to now, Dachen Caizhi has managed a total of nearly 50 billion yuan of funds, with a total of more than 760 invested enterprises, and one of every four invested companies is a national-level "specialized, special and new" enterprise, with 143 IPO listings.
Although the capital market is still in the adjustment stage in 2023, Dachen Caizhi still has achieved good results in fund raising, project investment, project IPO and other work. In 2023, Dachen Caizhi will add 16 IPO project declarations and 8 project IPOs, the scale of the fund will grow steadily, and the insurance capital LP will be introduced for the first time, the 8 billion yuan Dachen Chuangcheng Comprehensive Fund will be completed, the 2.5 billion yuan Dachen SME Science and Technology Fund and the 300 million yuan Dachen Chenxin No. 1 private placement fund have been raised, and the second phase of the 3 billion yuan SME Science and Technology Fund has also been launched.
In addition, Dachen Caizhi also initiated the establishment of a 3 billion scale industrial fund with Jiangxi State Control to complete the subscription of 1 billion yuan, and the large asset management layout of "comprehensive fund + science and technology fund + fixed increase fund + local state-owned joint venture fund platform" has been steadily promoted.
TV and radio media said in the financial report that on the basis of ranking among the top ten in the industry for more than ten consecutive years, Dachen Caizhi will actively explore new businesses, extend the industrial chain, and accelerate the construction of a large asset management business matrix in the face of the new situation.